ashika weekly insight

Weekly Insight

February 26, 2021

Techno-Funda Ideas:Coal India: Tgt - Rs. 165Lupin: Tgt - Rs. 1090

1008, Raheja Centre, 214, Nariman Point, Mumbai-400 021, Ph- 022- 6611 1700, Extn. – 704/786www.ashikagroup.com

Global markets were spooked at the weekend on account of fresh fears on rise in bond yields in US towards

1.6%. Domestic markets also ended in weekly losses with BSE Sensex and NSE Nifty registering losses of

3.49% and 3.02%. While the fears were doused on Wednesday after Fed Chairman, Powell said that he

doesn’t see inflation as a threat, but the Fed has the tools to deal with it if it becomes one. Economists also

believe that it would take at least three years for the Us economy to reach inflation targets of 2%, however

as Powell remarked that yields are rising on expectations of an improving economy. Although, it's the real

rates which matter most for the equity markets nevertheless a quick shot up in nominal yields could also

result in panic like in 'taper tantrum' in 2013. For emerging markets however, there's risk of capital flight

in case dollar strengthens and the RBI has thus built war chest of forex reserves to counter the

depreciation in rupee. Markets were also timid on account of rising new wave of virus across states like

Maharashtra, Kerala and Bangalore and localized lockdowns would only impact business sentiments. India

is on track to enter the second phase of its covid-19 vaccination drive and so far on a nationwide basis have

administered 9 doses per 1000 population in first phase while Israel has already vaccinated more than

36% of its population, 22% in the UAE, and 6% in the US. Thus, going ahead, check on Covid-19 cases,

vaccination drive and foreign inflows is of paramount importance. More importantly, the oil prices have

been on a rise and there have been clamors for reduction fuel taxes since higher fuel prices feeds directly

and indirectly into CPI. Since core prices are already sticky and Government's elevated borrowing

programme would keep upward pressure on yields, there's need to need cost push inflation. Besides, while

Q3FY21 results have been stellar higher commodity price inflation is expected to eat into margins in

coming quarters, thus all eyes are on sustenance of demand and economic revival.

Indian Market Outlook


CMP: Rs. 151 Target: Rs. 165 (+9.3%)➢ Coal India has planned a roadmap for achieving a capacity of 1 billion tonne capacity from the current level. This

includes 116 projects with peak rated capacity (PRC) of 829 million tonne with additional 32 mining projects withan additional PRC 303 million tonne. The 33 projects will have a total capital outlay of Rs 554 billion.

➢ As per the management, Coal is here to stay as the mainstay of Indian economy, and it will take at least 2-3decades for alternate sources to displace coal from its pole position as energy supply of the country. Further, PSUunits are on limelight given government's intention to privatize the profitable PSUs through strategic sale. CoalIndia's monopoly business with healthy cash balance and high dividend yield make the scrip attractive for theinvestment.

Techno-Funda – Coal India Ltd.

Prices for the past one year had been consolidating amidst the wider range of 125-150. Recently prices provide the breakout from the upper band of the range. Present price structure resembles that of an Inverted Head & Shoulder formation. Breakout from the pattern with huge spike in volume further reinstates of a bullish outlook. Hence the stock can be bought with price target of 165


CMP: Rs. 1011 Target: Rs. 1090 (+7.8%)➢ Lupin's US business accounting 36% of revenue has been one of the largest ANDA pipelines comprising 437 filed

ANDAs and 152 pending approvals including 46 FTFs. Despite its US business is confronting pricing pressure and

regulatory issues, management is confident in achieving steady recovery in US. The company is looking for

branded products and complex generics (biosimilars, injectables) to overcome this issue.

➢ Lupin ranks sixth in domestic formulations with a market share of 3.8%. The acute: chronic: sub-chronic ratio for

the company is at 25:61:13. In terms of MR productivity, it has one of the best MR productivities among large cap

peers. Further, tie-ups with Eli Lilly, Boehringer for anti-diabetics and with MSD for pneumonia vaccines are some

steps to bolster the domestic business.

Techno-Funda – Lupin Ltd.

Sequential rise in prices since Nov’20 were accompanied by occasional profit booking at higher level. Recent price correction has resulted in prices taking support from the 50% retracement (High: 1112; Low: 855). Present price consolidation might provide an ideal opportunity to enter long for an upside target of 1090


Global IndicesIndices Closing*

Return(%)

1 W 1 M 3 M 6 M 1 Y

Dow Jones 31402.0 (0.3) 1.5 5.1 10.8 16.5

Nasdaq 13119.4 (5.4) (3.7) 8.5 12.5 46.1

FTSE 100 6622.1 (0.0) (0.5) 4.1 9.5 (6.0)

CAC 40 5758.2 (0.3) 4.2 3.4 14.1 1.3

DAX 13846.6 (1.0) (0.2) 4.2 5.0 8.4

Hang Seng 28980.2 (5.4) (1.4) 8.1 13.7 8.6

Nikkei 225 28966.0 (4.2) 1.5 9.2 24.4 29.2

Shanghai Comp. 3509.1 (5.1) (1.7) 4.1 5.4 17.4

Straits Times 2949.0 2.4 0.1 3.2 16.0 (5.4)

Korea KOSPI 3013.0 (3.0) (4.1) 14.7 27.2 45.1

Taiwan 15953.8 (2.4) 1.9 15.2 24.3 39.5

Brazil IBOVESPA 112256.4 (5.8) (3.6) 1.8 11.6 6.2

Russia MOEX 3366.6 (2.6) (0.7) 7.3 10.3 11.6

Argentina MERVAL 48920.7 (5.6) (1.1) (10.2) 6.7 34.3

Mexico IPC 44310.3 (0.4) (1.6) 4.5 17.4 3.7

Nifty 14529.2 (3.0) 2.0 11.9 25.8 24.4

Sensex 49100.0 (3.5) 1.6 10.9 25.7 23.1

* As on February 26, 2021; US and European Indices are of as on February 25, 2021


Dow Jones Chart

Trend in the market continues to remain positive though price action suggest exhaustion in momentum. With rise in U.S. Treasury yields investors seems inclined to trim position from stock market to Treasury market. Weekly price action suggest bearish Shooting Star formation and presence of bearish Class A divergence might drag the Index lower. Immediate support level for the Index is around 30000, breach of which would change the trend to negative


MSCI Emerging Mkts.

Since March’20 Index has been scaling higher honoring the rising trendline, presently the elevated support from the trendline comes around 1320. Breach of the year old trendline might change the outlook from positive to negative in the short term however medium-term outlook continues to remain positive as Golden Crossover in weekly time frame remains unchanged


USA

➢ U.S. gross domestic product surged up by 4.1 percent in the fourth quarter compared to the

previously reported 4.0 percent spike.

➢ First-time claims for U.S. unemployment benefits in the week ended February 20th to 730,000, a

decrease of 111,000 from the previous week's revised level of 841,000.

EUROPE

➢ Eurozone economic sentiment index rose more-than-expected to 93.4 from 91.5 in the previous

month.

➢ Eurozone harmonized index of consumer prices climbed 0.9 percent year-on-year in January,

reversing a 0.3 percent fall in December.

ASIA

➢ Industrial output in Japan was up a seasonally adjusted 4.2 percent on month in January, following

the 1.0 percent decline in December.

➢ Japan's leading index, which measures the future economic activity, fell to 95.3 in December from

96.1 in November.

Global Updates


Nifty Chart

Benchmark Index posted second consecutive week of correction. Profit booking were seen across global equity due to rise in bond yields. Presently the trend deciding level for Nifty is at 15000, sustaining above which would keep the positive momentum intact. Ongoing breather is likely to undergo a base formation at key support threshold of 14500-14600 (50% retracement level) followed by 14300 (61.8% retracement)


Nifty Options OI Distributions

22

3

27

9

53

4

21

8

86

93

16

0

54

1

45

5

33

9

7,4

48

1,3

04

3,8

73

6,1

29

5,1

59

17

,86

5

4,0

68

6,4

42

6,3

65

5,7

03

15

,91

3

5,6

98

6,3

42 1

03

68

7,4

86

43

,20

2

10

,49

7

8,7

78

14

,37

6

6,5

38

31

,82

1

7,3

59

18

,99

1

18

,12

8

4,5

49

16

,20

3

2,2

21

2,0

83

1,3

98

44

3

5,3

38

0

5000

10000

15000

20000

25000

30000

35000

40000

45000

500001

36

00

13

70

0

13

80

0

13

90

0

14

00

0

14

10

0

14

20

0

14

30

0

14

40

0

14

50

0

14

60

0

14

70

0

14

80

0

14

90

0

15

00

0

15

10

0

15

20

0

15

30

0

15

40

0

15

50

0

Call -Put Options Open Interests Distributions for Mar'21 Contract

Call

Put


Bank Nifty Chart

Bank Nifty during the week traded amidst high volatility, closed the week on a negative note. The index has strong support at 35000 levels as it is the confluence of 50% retracement post the budget rally at 33695 followed by 50SMA at 33100.


Indices Closing* Return(%)

1 W 1 M 3 M 6 M 1 Y

S&P BSE 500 19371.3 (2.1) 3.8 14.3 27.5 27.0

S&P BSE IT 24424.0 (4.0) (6.3) 11.8 33.2 52.4

S&P BSE FMCG 11966.6 (2.6) (4.8) 2.1 2.6 6.5

S&P BSE Capital Goods 21519.0 (1.2) 7.8 26.8 51.8 35.2

S&P BSEConsumer Durables 31758.2 (0.2) 3.1 20.3 36.3 20.1

S&P BSE Healthcare 20855.7 (2.2) (3.1) 3.6 8.9 49.9

S&P BSE PSU 7013.5 0.5 20.5 31.9 32.9 12.8

S&P BSE Bankex 38981.2 (3.4) 10.2 15.2 46.5 12.1

S&P BSE Auto 22937.7 (3.6) (2.4) 15.7 25.5 41.0

S&P BSE Metal 13719.2 7.1 18.6 34.3 49.6 53.3

S&P BSE Oil & Gas 15543.4 0.7 9.5 17.1 16.0 17.9

S&P BSE Midcap 19978.7 (0.3) 7.7 20.4 31.8 31.7

S&P BSE Smallcap 20155.4 1.5 10.7 22.3 34.6 40.7

S&P BSE Realty 2787.0 0.7 10.7 38.9 61.3 24.1

S&P BSE Finance 7556.5 (3.3) 7.5 14.5 40.8 12.5

S&P BSE Energy 6461.9 1.0 9.1 10.0 2.5 38.8

S&P BSE Telecom 1397.9 (2.8) (0.7) 19.6 13.9 15.2

S&P BSE Infra 221.5 0.5 17.8 36.1 44.8 35.4

* As on February 26, 2021

Sector Performance


Indian Economy News➢ India's economy probably returned to growth in its fiscal third quarter after a recession earlier in

2020, economists said, and the recovery is expected to gather pace as consumer demand and

investments shake off the effects of the pandemic. (BS)

➢ The Centre on Wednesday said it has transferred over Rs 1.15 lakh crore directly to bank accounts of

more than 10.75 crore farmers under the PM-KISAN scheme and asked states to ensure that all

eligible beneficiaries are covered in this flagship programme. (BS)

➢ The pharma industry felt the PLI scheme leads the way to create more global-scale pharma

companies in India. (BS)

➢ India's exports to China has increased by 16.15 per cent to USD 20.87 billion in 2020 from USD 17.9

billion in the previous year on account of healthy growth in the shipments of ores, iron and steel,

aluminum and copper, according to the data of the commerce ministry. (BS)

➢ India's GDP may turn positive at 1.3 per cent in the third quarter of 2020-21, having witnessed

contraction in the previous two quarters due to the coronavirus pandemic, as the number of cases is

falling and public spending has started rising, according to a report. (BS)

➢ Petroleum, Natural Gas and Steel Minister Dharmendra Pradhan has urged Goods and Services Tax

(GST) Council to bring petroleum products under GST purview as early as possible. (BS)


Corporate News➢ Ashok Leyland has completed the acquisition 38% of Hinduja Tech Ltd's (HTL) share capital from

Nissan International Holding BV for a total consideration of ₹70.20 crore.

➢ Schaeffler India is looking to leverage the IT infrastructure and competence available in India, which

offers a high level of cost competitiveness, to develop solutions for the global need as well as for the

domestic market, a top company executive has said.

➢ Cadila Healthcare owned US-based Sentynl Therapeutics said it has inked a pact with Cyprium

Therapeutics to acquire its proprietary rights to CUTX-101, a copper histidinate product candidate

for the treatment of Menkes disease.

➢ Bharti Airtel marked its entry into advertising business with launch of 'Airtel Ads', a move it said will

enable brands to pitch consent-based and privacy-safe campaigns to over 320 million customers

across its various businesses like mobile, DTH and homes.

➢ The National Stock Exchange (NSE) announced that there will be replacements in 36 indices,

including Nifty 50. The changes will be effective from 31 March. In Nifty 50, Tata Consumer Products

will replace GAIL. In Bank Nifty, AU Small Finance Bank to replace Bank Baroda.

➢ Bharat Forge received an order to the tune of Rs177.95cr from the Indian Ministry of Defence for the

supply of Kalyani M4 vehicles.


Major Bulk Deals22.02.21

➢ Muthoot Cap Serv Ltd : Saif India Vi Fii Holdings Limited Buy 200000 Shares @ Rs. 397.5

➢ Gabriel : Asia Investments Private Limited Buy 3030000 Shares @ Rs. 111.97

➢ Hscl : Bc India Investments Sell 5000000 Shares @ Rs. 43.49

➢ Muthtfn : Saif India Vi Fii Holdings Limited Buy 200000 Shares @ Rs. 397.5

23.02.21

➢ Kajariacer : Smallcap World Fund Inc. Sell 525754(Net) Shares @ Rs. 966.39

24.02.21

➢ Esab India Ltd. : Sbi Mutual Fund Buy 250000 Shares @ Rs. 1865

➢ Boschltd : Robert Bosch Internationale Beteiligungen Ag Buy 19984324 Shares @ Rs. 14742.6

➢ Boschltd : Robert Bosch Gmbh Sell 19984324 Shares @ Rs. 14742.6

➢ Affle : Laudus International Marketmasters Fund Buy 306826 Shares @ Rs. 5267

➢ Affle : Affle Holdings Pte Ltd Sell 306826 Shares @ Rs. 5267

➢ Esabindia : Sbi Mutual Fund Buy 250000 Shares @ Rs. 1865


25.02.21

➢ Himadri Speciality Chem L : Bc India Investments Sell 9012166 Shares @ Rs. 40.1

➢ Seamec Limited : Algomind Capital Fund Sell 509811 Shares @ Rs. 484.17


➢ Equitas : Cdc Group Plc Sell 8930410 Shares @ Rs. 88.23


DATE FII CASH DII NET

22-Feb-21 -893.3 -919.9 -1813.1

23-Feb-21 -1569.0 216.7 -1352.4

24-Feb-21 28739.2 230.4 28969.6

25-Feb-21 188.1 -746.6 -558.5

26-Feb-21

Total 26465.0 -1219.3 25245.6

MTD 50339.6 -17857.8 32481.8

YTD 59,320.4 -29,828.3 29492.1

FII & DII Investment (Rs. Cr.)

-80000

-60000

-40000

-20000

0

20000

40000

60000

80000

Feb

-18

Ap

r-1

8

Jun

-18

Au

g-1

8

Oct

-18

Dec

-18

Feb

-19

Ap

r-1

9

Jun

-19

Au

g-1

9

Oct

-19

Dec

-19

Feb

-20

Ap

r-2

0

Jun

-20

Au

g-2

0

Oct

-20

Dec

-20

Feb

-21

FII (Rs. Cr.)

-60000

-40000

-20000

0

20000

40000

60000

80000

Feb

-18

Ap

r-1

8

Jun

-18

Au

g-1

8

Oct

-18

Dec

-18

Feb

-19

Ap

r-1

9

Jun

-19

Au

g-1

9

Oct

-19

Dec

-19

Feb

-20

Ap

r-2

0

Jun

-20

Au

g-2

0

Oct

-20

Dec

-20

Feb

-21

DII (Rs. Cr.)


Best Performers for the week

SlNo.

Co. NameCl. Price Cl. Price

Cl. Price Var(%)

19.02.2021 26.02.2021

1TATACHEM 618.6 733.9 18.6%

2BHEL 40.4 47.4 17.2%

3SAIL 65.3 76.2 16.7%

4NATIONALUM 51.8 59.9 15.7%

5HINDALCO 308.0 341.0 10.7%

6COALINDIA 139.3 151.7 8.9%

7NMDC 118.0 126.9 7.6%

8VEDL 190.8 205.3 7.6%

9ADANIENT 781.9 833.9 6.7%

10TATASTEEL 670.7 714.4 6.5%

Worst Performers for the week

SlNo.

Co. NameCl. Price Cl. Price

Cl. Price Var(%)

19.02.2021 26.02.2021

1IGL 543.0 490.0 -9.8%

2SRTRANSFIN 1404.6 1285.0 -8.5%

3M&M 879.3 804.9 -8.5%

4BERGEPAINT 741.3 680.0 -8.3%

5PVR 1476.8 1359.0 -8.0%

6POWERGRID 232.2 213.9 -7.9%

7KOTAKBANK 1938.8 1791.4 -7.6%

8TECHM 994.0 919.3 -7.5%

9HDFC 2741.3 2540.0 -7.3%

10RECLTD 145.7 135.3 -7.2%

F&O Stocks Top 10


Stocks 52 Week High / LowWeekly High

Sr No. Stocks Close Price

1 KPIT Technologies 144.6

2 Godrej Properties 1540.6

3 Oil India 126.3

4 Marico 397.6

5 Siemens 1850

6 Hindustan Copper 149.9

7 Gail India 141.8

8 NMDC 127

9 CDSL 624.1

10 Torrent Power 381.8

Weekly Low

Sr No. Stocks Close Price


USDINR Chart

Indian Rupee has been consistently strengthening against the US Dollar, the pair has been closely following the RBI’s rate expectations. Capital flows had been on the higher side which had been providing impetus to the currency. On the technical parlance the currency might face resistance around 73 levels while on the downside 70-70.5 remains open


Currencies Vs. INR

72.73

72.37 72.3772.29

72.50

73.04

71.80

72.00

72.20

72.40

72.60

72.80

73.00

73.20

19-Feb-21 23-Feb-21 25-Feb-21

USD-INR

100.71

101.43

101.80

102.38102.66

101.90

99.50

100.00

100.50

101.00

101.50

102.00

102.50

103.00

19-Feb-21 23-Feb-21 25-Feb-21

GBP-INR

87.6187.72

88.05

87.83

88.27

88.80

87.00

87.50

88.00

88.50

89.00

19-Feb-21 23-Feb-21 25-Feb-21

EURO-INR

68.68

68.50

68.86

68.5168.45

68.78

68.10

68.20

68.30

68.40

68.50

68.60

68.70

68.80

68.90

69.00

19-Feb-21 23-Feb-21 25-Feb-21

100YEN-INR


Treasury & Money Market Closing* Past Trend

1 W 1 M 3 M 6 M 1 Y

US Govt10 Year Bond Yield 1.5% 1.3% 1.0% 0.9% 0.7% 1.3%

LIBOR USD 12 Month 0.3% 0.3% 0.3% 0.3% 0.4% 1.6%

India Govt 30 Year Bond Yield 4.0% 4.0% 4.2% 3.4% 3.7% 5.4%




India T-Bill 12 Month 2.9% 3.0% 3.2% 2.9% 3.2% 5.1%



India AAA Corporate 10 Year Bond Yield 7.2% 7.1% 6.7% 6.6% 6.9% 7.4%

India RBI Repo Rate 4.0% 4.0% 4.0% 4.0% 4.0% 5.2%

India RBI Reverse Repo Rate 3.4% 3.4% 3.4% 3.4% 3.4% 4.9%

India RBI Marginal Standing Facility 4.3% 4.3% 4.3% 4.3% 4.3% 5.4%

India Indicative Call Rate 3.3% 3.4% 3.5% 3.4% 3.2% 5.0%

Treasury & Money Market


Banking Updates

0%

2%

4%

6%

8%

10%

12%

14%

10000

11000

12000

13000

14000

15000

16000

Feb

-18

May

-18

Au

g-1

8

No

v-1

8

Feb

-19

May

-19

Au

g-1

9

No

v-1

9

Feb

-20

May

-20

Au

g-2

0

No

v-2

0

Feb

-21

Schedules Commercial Banks Aggregate Deposit (Rs. Bn.)

Growth (%)

0%

5%

10%

15%

20%

7500

8000

8500

9000

9500

10000

10500

11000

Feb

-18

May

-18

Au

g-1

8

No

v-1

8

Feb

-19

May

-19

Au

g-1

9

No

v-1

9

Feb

-20

May

-20

Au

g-2

0

No

v-2

0

Feb

-21

Schedules Commercial Banks Credit (Rs. Bn.) Growth (%)

5.5%

6.5%

7.5%

8.5%

9.5%F

eb-1

8

May

-18

Au

g-1

8

No

v-1

8

Feb

-19

May

-19

Au

g-1

9

No

v-1

9

Feb

-20

May

-20

Au

g-2

0

No

v-2

0

Feb

-21

Govt 10 Yr Bond Yield (%) AAA Corporate 10 yr Bond Yield (%)

3.2%

4.2%

5.2%

6.2%

7.2%

8.2%

9.2%

10.2%

Feb

-18

May

-18

Au

g-1

8

No

v-1

8

Feb

-19

May

-19

Au

g-1

9

No

v-1

9

Feb

-20

May

-20

Au

g-2

0

No

v-2

0

Feb

-21

T-Bill 364-Day (%) CP 12 Months (%)


Closing* Return(%)

1 W 1 M 3 M 6 M 1 Y

Precious metal

Gold (USD per Oz) 1764.0 (1.1) (4.7) (2.9) (9.7) 7.5

Silver Spot (USD/Oz) 26.9 (1.6) 5.4 14.7 (2.3) 49.9

MCX Gold (Rs. per 10g) 46375.0 0.5 (5.6) (4.4) (10.4) 9.1

MCX Silver (Rs./Kg.) 68450.0 (0.8) 2.9 14.3 1.4 47.0

Agri Commodities

Mentha Oil (Rs./Kg.) 1074.8 (1.0) (4.9) (2.6) (5.0) (17.4)

Palm Oil (Rs./10 Kg.) 1076.9 3.8 18.7 18.8 43.0 55.6

Ethanol (USD/Gal.) 1.7 0.0 5.6 23.4 31.5 31.0

NCDEX Cotton (Rs./bale (500 lb)) 21740.0 1.4 4.1 8.0 26.9 16.1

Rubber Kottayam (Rs./100 Kg.) 16050.0 1.9 5.9 N/A 21.1 18.9

Sugar M30 (Rs./Quintal) 3161.0 0.0 (4.4) (5.0) (1.7) (8.4)

Copra at Cochin (Rs./Quintal) 10550.0 6.1 14.4 5.4 (7.9) (18.8)

Barley (Rs./Quintal) 1650.0 (0.4) (1.1) 12.2 N/A N/A


Precious Metal & Agri Commodities


Metal & Energy

Non Ferrous Metal Closing* Return(%)

1 W 1 M 3 M 6 M 1 Y

LME Aluminum (USD/MT) 2237.4 5.4 10.7 14.6 29.0 32.9

LME Copper (USD/MT) 9456.3 10.3 18.7 29.8 44.5 67.0

LME Zinc (USD/MT) 2878.8 1.5 7.3 5.1 17.2 43.2

LME Nickel (USD/MT) 19158.0 0.2 5.2 19.7 28.3 54.8

LME Lead (USD/MT) 2145.0 2.0 5.8 6.3 8.9 12.2

MCX Aluminum (Rs./Kg.) 175.5 3.2 7.3 7.5 21.7 N/A

MCX Copper (Rs./Kg.) 713.0 8.5 17.7 26.5 34.0 70.0

MCX Zinc (Rs./Kg.) 223.6 (4.5) 3.4 2.1 13.8 42.1

MCX Nickel (Rs./Kg.) 1368.5 (3.4) 3.4 13.7 22.0 51.2

MCX Lead (Rs./Kg.) 177.5 (0.3) 5.9 12.2 15.8 N/A

Energy

Brent Crude (USD per Barrel) 66.2 5.3 18.5 38.6 45.1 24.0

WTI Crude (Nymex) (USD per Barrel) 62.9 6.2 19.6 37.6 45.0 29.1

Natural Gas (USD/MMBtu) 2.7 (11.6) 2.1 (6.4) 10.2 48.9



CRB Index Chart

Trend in the market continues to remain positive with sequential higher high formation. Index has now surpassed and now heading towards the previous swing high of 200. The entire up move since bottoming out in April (101.48) is well channeled and signaling strength. Immediate support for Index is seen from previous resistance turn support of 185


Brent Crude Oil Chart

Oil prices rose to the highest levels in more than 11 months, underpinned by monetary easing policies and lower crude production in the United States. Investors seems to be awaiting the Opec+ meeting next week, watching for any changes to production strategy. The broader range for the commodity is within $60-$70 range


Corporate Action

Scrip Name Ex-Date CMP Div. Amt Div Yield(%)

BUTTERFLY 04-Mar-21 566.1 1.50 0.26

HAL 05-Mar-21 1087.4

POWERGRID 08-Mar-21 214.8

THANGAMAYL 9-Mar-21 629.4

DICIND 10-Mar-21 406.4 6.00 1.48

MARICO 10-Mar-21 397.2

COALINDIA 15-Mar-21 152.2

AMBUJACEM 19-Mar-21 273.7 1.00 0.37

BEL 23-Mar-21 137.2

Dividend

Company PurposeRecord

Date

Digjam Ltd Reduction of Capital 4-Mar-21

Others

Scrip Name Ex-Date CMP Div. Amt Div Yield(%)

ACC 30-Mar-21 1733.0 14.00 0.81

CRISIL 30-Mar-21 1947.6 14.00 0.72

KSB 15-Apr-21 724.7 8.50 1.17

ABB 19-Apr-21 1532.2 5.00 0.33

SANOFI 19-Apr-21 8268.9 365.00 4.41

SCHAEFFLER 19-Apr-21 5187.3 38.00 0.73

VESUVIUS 19-Apr-21 1051.9 7.00 0.67

CASTROLIND 22-Apr-21 129.6 3.00 2.32

NESTLEIND 29-Apr-21 16097.7 65.00 0.40

Dividend


Corporate Action

CompanyBuyback

Price (Rs.)Buyback

Size (Rs. Cr.)Board

Meeting DateRecord

DateOpenDate

CloseDate

CMP(Rs.)

Tender OfferGail (India) 150 1046 15-Jan-21 28-Jan-21 25-Feb-21 10-Mar-21 141.8

National Aluminium 58 749 27-Jan-21 08-Feb-21 25-Feb-21 10-Mar-21 60.0

Neelamalai Agro 1600 4 21-Jan-21 05-Feb-21 24-Feb-21 09-Mar-21 1551.0

Indian Toners 160 37 05-Nov-20 15-Jan-21 127.8

Suprajit Engineering 320 48 10-Feb-21 22-Feb-21 286.0

NIIT Ltd 240 237 24-Dec-20 24-Feb-21 195.1

Gujarat Apollo Industries 222 19 13-Feb-21 26-Feb-21 214.0

Smartlink Holdings 95 32 04-Dec-20 01-Mar-21 90.7

Bharat Rasayan 11500 107 12-Jan-21 05-Mar-21 9963.1

Savita Oil Tech 1400 35 19-Feb-21 05-Mar-21 1084.6

Softsol India 95 32 04-Dec-20 90.7

SIS Ltd. 550 100 15-Feb-21 429.2

Jagran Prakashan 02-Mar-21 59.6

Open MarketRane Brake Lining 825 22 15-Oct-20 27-Oct-20 26-Apr-21 856.5

HPCL 250 2500 04-Nov-20 17-Nov-20 14-May-21 240.4

Sreeleathers 160 32 24-Nov-20 04-Dec-20 03-Jun-21 144.8

Freshtrop Fruits 90 7 28-Jan-21 10-Feb-21 09-Aug-21 75.6

VRL Logistics 300 60 06-Feb-21 15-Feb-21 14-Aug-21 258.4

Anup Engineering 800 25 10-Feb-21 24-Feb-21 23-Aug-21 649.5

Nava Bharat Ventures 100 150 26-Feb-21 72.7

Buyback


Corporate Action

CompanyBoard

Meeting DateRatio

RecordDate

Quint Digital Media 20-Jan-21 1:1 3-Mar-21

Sacheta Metals 16-Jan-21 1:100 9-Mar-21

Smruthi Organics 16-Jan-21 2:1

Trio Mercantile 27-Jan-21 1:6

Astral Poly Technik 3-Feb-21 1:3

Infibeam Avenues 11-Feb-21 1:1

East West Holdings 19-Feb-21 1:4

Bonus Issue

CompanyBoard

Meeting DateRatio

RecordDate

Asian Granito I 23-Oct-20 From Rs. 10/- to Rs. 2/-

Trio Mercantile 27-Jan-21 From Rs. 10/- to Rs. 2/-

Wardwizard Innov 29-Jan-21 From Rs. 10/- to Rs. 1/-

Josts Engineering 29-Jan-21 From Rs. 10/- to Rs. 5/-

Finolex Industries 1-Feb-21 From Rs. 10/- to Rs. 2/-

Alkyl Amines Ch 2-Feb-21 From Rs. 5/- to Rs. 2/-

Dixon Tech 2-Feb-21 From Rs. 10/- to Rs. 2/-

Stylam Industries 9-Feb-21 From Rs. 10/- to Rs. 5/-

Sharda Motor 10-Feb-21 From Rs. 10/- to Rs. 2/-

Pritka Auto 11-Feb-21 From Rs. 10/- to Rs. 2/-

East West Holdings 19-Feb-21 From Rs. 10/- to Rs. 2/-

G G Engineering 10-Mar-21

Stock Split / Consolidation

CompanyBoard

Meeting DateStake No. of Shares Offer Price Acquirer Open Date Close Date

Prime Focus 25-Dec-20 26.00% 82,371,046 44.15 A2R Holdings 17-Feb-21 3-Mar-21

Vedanta 15-Jan-21 10.00% 371,750,500 160 Vedanta Resources Ltd 4-Mar-21 18-Mar-21

Magma Fincorp 17-Feb-21 26.00% 198,832,105 70 Rising Sun Holdings Pvt Ltd 8-Apr-21 26-Apr-21

Lloyds Steels Indu 28-Jan-21 26.00% 233,661,600 1 Shree Global Tradefin

Open Offer


Corporate Action

CompanyBoard

Meeting DateSize

(Rs. Cr.)Ratio

IssuePrice (Rs.)

RecordDate

Open Date Close Date

Patel Integrated Logistics 12-Feb-21 9.5 27:42 10 18-Feb-21 26-Feb-21 8-Mar-21

Authum Investment 12-Nov-20 40 2:5 81 19-Feb-21 1-Mar-21 15-Mar-21

Emerald Leasing 21-Jan-21 20 42:19 10 28-Jan-21

Arvind Fashions 18-Feb-21 200 3:20 135 24-Feb-21

WeP Solutions 20-Nov-20 10 3:8 10

Aplab 2-Feb-21 50 1:1 10

Scanpoint Geomatics 25-Aug-20 25

Shree Rama Multi-Tech 12-Nov-20 80

Rajapalayam Mills 21-Dec-20 70

Seacoast Shipping 12-Jan-21 35

Vikas EcoTech 23-Jan-21 50

DCM Limited 12-Feb-21 50

Shivam Autotech 12-Feb-21

RPP Infra Projects 17-Feb-21 48

HKG Ltd 27-Feb-21

Rajapalayam Mills 27-Feb-21

Oswal Leasing 3-Mar-21

Rights Issue

CompanyBoard

Meeting DateStake No. of Shares

ExitPrice (Rs.)

Open Date Close Date

Prabhat Dairy 10-Sep-19 49.90% 48,740,547 66.65

Adani Power 22-Jun-20 25.03% 965,326,374 35.65Allcargo Logistics 27-Aug-20 30.00% 73,673,315 92.6

Delisting


Global Economic CalendarDate Curr. Event Forecast Previous

1-Mar-21 CNY Caixin Manufacturing PMI (Feb) 51.5 51.5

1-Mar-21 INR Nikkei Markit Manufacturing PMI (Feb) 57.5 57.7

1-Mar-21 INR Trade Balance (Feb)

1-Mar-21 USD Construction Spending (MoM) (Jan) 0.80% 1.00%

1-Mar-21 USD ISM Manufacturing PMI (Feb) 58.6 58.7

2-Mar-21 JPY Unemployment Rate (Jan) 3.00% 2.90%

2-Mar-21 EUR CPI (YoY) (Feb) 1.00% 0.90%

2-Mar-21 EUR HICP ex Energy & Food (YoY) (Feb) 1.10% 1.40%

3-Mar-21 INR Nikkei Services PMI (Feb) 53 52.8

3-Mar-21 EUR PPI (YoY) (Jan) -1.20% -1.10%

3-Mar-21 USD Services PMI (Feb) 58.9 58.3

3-Mar-21 USD ISM Non-Manufacturing PMI (Feb) 58.5 58.7

4-Mar-21 EUR Unemployment Rate (Jan) 8.30% 8.30%

4-Mar-21 USD Initial Jobless Claims 730K

4-Mar-21 USD Nonfarm Productivity (QoQ) (Q4) -4.80% 4.60%

5-Mar-21 GBP Halifax House Price Index (MoM) (Feb) 0.30% -0.30%

5-Mar-21 USD Nonfarm Payrolls (Feb) 110K 49K

5-Mar-21 USD Trade Balance (Jan) -65.80B -66.60B

5-Mar-21 USD Unemployment Rate (Feb) 6.40% 6.30%


Ashika Stock Broking Limited (“ASBL”) started its journey in the year 1994 and is presently offering a wide bouquet of services to its valued clients including broking services, depository services anddistributorship of financial products (Mutual funds, IPO & Bonds). It became a “Research Entity” under SEBI (Research Analyst) Regulations 2014 in the year of 2015 (Reg No. INH000000206).

ASBL is a wholly owned subsidiary of Ashika Global Securities (P) Ltd., a RBI registered non-deposit taking NBFC Company. ASHIKA GROUP (details enumerated on our website www.ashikagroup.com) is anintegrated financial service provider inter alia engaged in the business of Investment Banking, Corporate Lending, Commodity Broking, Debt Syndication & Other Advisory Services.

There were no significant and material disciplinary actions against ASBL taken by any regulatory authority during last three years except routine matters.

Disclosure

Research reports are being prepared and distributed by ASBL in the sole capacity of being a Research Analyst under SEBI (Research Analyst) Regulations 2014. The following disclosures and disclaimer are anessential part of any Research Report so being distributed.

• ASBL or its associates, its Research Analysts (including their relatives) may have financial interest in the subject company(ies). And, the said financial interest is not limited to having an open stock marketposition in /acting as advisor to /having a loan transaction with the subject company(ies) apart from registration as clients.

• ASBL or its Research Analysts (including their relatives) do not have any actual / beneficial ownership of 1% or more of securities of the subject company(ies) at the end of the month immediatelypreceding the date of publication of the source research report or date of the concerned public appearance. However, ASBL's associates may have actual / beneficial ownership of 1% or more of securitiesof the subject company(ies).

• ASBL or its Research Analysts (including their relatives) do not have any other material conflict of interest at the time of publication of the source research report or date of the concerned publicappearance. However, ASBL's associates might have an actual / potential conflict of interest (other than ownership).

• ASBL or its associates may have received compensation for investment banking, merchant banking, brokerage services and for other products and services from the subject companies during thepreceding 12 months. However, ASBL or its associates or its Research analysts (forming part of Research Desk) have not received any compensation or other benefits from the subject companies or thirdparties in connection with the research report/ research recommendation. Moreover, Research Analysts have not received any compensation from the companies mentioned in the research report/recommendation in the past twelve months.

• The subject companies in the research report/ recommendation may be a client of or may have been a client of ASBL during the twelve months preceding the date of concerned public appearance forinvestment banking/ merchant banking / brokerage services.

• ASBL or their Research Analysts have not managed or co–managed public offering of securities for the subject company(ies) in the past twelve months. However, ASBL's associates may have managed orco–managed public offering of securities for the subject company(ies) in the past twelve months.

• Research Analysts have not served as an officer, director or employee of the companies mentioned in the report/ recommendation.

• Neither ASBL nor its Research Analysts have been engaged in market making activity for the companies mentioned in the report / recommendation.

Disclaimer

The research recommendations and information are solely for the personal information of the authorized recipient and does not construe to be an offer document or any investment, legal or taxation advice orsolicitation of any action based upon it. This report is not for public distribution or use by any person or entity, where such distribution, publication, availability or use would be contrary to law, regulation orsubject to any registration or licensing requirement. We will not treat recipients as customer by virtue of their receiving this report. The report is based upon the information obtained from public sources that weconsider reliable, but we do not guarantee its accuracy or completeness. ASBL shall not be in anyways responsible for any loss or damage that may arise to any such person from any inadvertent error in theinformation contained in this report. The recipients of this report should rely on their own investigations.

Disclosure & Disclaimer

https://www.ashikagroup.com/

ashika weekly insight

Documents